NuScale Power's NRC Milestone Paves the Way for SMR Dominance in the Nuclear Renaissance

The nuclear energy sector is on the brink of a renaissance, driven by the urgent need for reliable, carbon-free power to fuel data centers, industrial hubs, and grids strained by the rise of AI and digital infrastructure. At the vanguard of this transformation sits NuScale Power (NUS), a company poised to capitalize on its upcoming July 2025 U.S. Nuclear Regulatory Commission (NRC) certification for its 77-MWe small modular reactor (SMR) design. This milestone—combined with strategic partnerships, manufacturing scale, and a growing pipeline of customer contracts—positions NuScale to unlock a $400 billion global SMR market by 2040, as utilities, hyperscalers, and industrial giants seek cost-effective, scalable solutions for their energy needs.

The NRC Approval: A Catalyst for Commercialization

The July 2025 certification for NuScale's uprated 77-MWe design—the first and only SMR to receive NRC Standard Design Approval (SDA)—is a non-negotiable threshold for the company's growth. This design, part of the VOYGR™-6 plant configuration, boosts power output by 54% over its previously approved 50-MWe model while retaining identical safety features. The NRC's final Safety Evaluation Report (FSER) and SDA issuance are expected by month-end, following a smooth review process with minimal open technical issues.

This certification unlocks two critical advantages:
1. Speed to market: Once approved, NuScale can reference its design in future project licenses, reducing permitting timelines by years.
2. Customer credibility: The NRC's stamp of approval will be a critical selling point for hyperscalers like Google and Amazon, which require regulatory certainty for multi-billion-dollar data center investments.

Why SMRs Are the Future—and NuScale's Tech Leads the Pack

Small modular reactors offer unmatched flexibility compared to traditional nuclear plants. NuScale's design:
- Scales precisely to demand: From 308 MWe (4 modules) to 924 MWe (12 modules), it can power everything from a single data center to an industrial complex.
- Safety first: Its passive cooling system eliminates the need for emergency pumps or backup generators, a feature the NRC has already validated.
- Cost-competitive: At $2,500–$3,000/kW—half the cost of conventional nuclear—NuScale's SMRs undercut coal and natural gas for baseload power in many markets.

Partnerships Powering Global Deployment

NuScale's strategic alliances are accelerating its path to commercialization:
1. Doosan's manufacturing muscle: Partnering with the South Korean conglomerate, NuScale has already begun producing 12 modules, with capacity to scale to 20 annually by 2026. This vertical integration ensures supply chain resilience.
2. ENTRA1's project pipeline: The company's collaboration with ENTRA1 Energy on the RoPower Doicești plant in Romania—which contributed $12 million to NuScale's Q1 2025 revenue—demonstrates its ability to secure international contracts.
3. Diversified customer base: Beyond utilities, NuScale is targeting data centers (e.g., hyperscalers needing 24/7 power) and industrial sectors (e.g., green hydrogen production). Its Q1 earnings highlighted advanced negotiations with 15+ global clients, with term sheets expected to close by year-end 2025.

The Financial Runway: Ready to Scale

NuScale enters 2025 with a $521 million cash balance—bolstered by a recent $102 million At-The-Market offering—and a burn rate that's slowed to $15 million/quarter. CEO John Hopkins has emphasized that the company needs one major contract by 2026 to justify scaling manufacturing capacity. With 12 modules already in production, the path to profitability is clear:
- 2030 commercial deployment: The first VOYGR-6 plant is on track, contingent on final customer contracts.
- Cash flow positive by 2027: Once modules are sold, NuScale's margins could expand to 40–50%, as fixed costs are absorbed by volume.

Addressing Skepticism: Overcoming Past Setbacks

Critics point to the canceled Carbon Free Power Project (CFPP) in Utah as evidence of execution risks. But NuScale has since pivoted to a demand-driven strategy, focusing on projects with guaranteed revenue streams. For example, the RoPower plant is backed by Romania's government, and data center partnerships offer steady revenue through long-term power purchase agreements.

The company's focus on regulatory alignment also mitigates risks: its 77-MWe design leverages the NRC's familiarity with the 50-MWe model, reducing approval hurdles.

The Investment Case: A Multi-Bagger Opportunity

NuScale's stock has underperformed in 2025 amid macroeconomic volatility, but its upcoming milestones—July NRC approval, 2025 contract closures, and 2026 manufacturing ramp—could catalyze a 200–300% upside over the next 18 months. Key catalysts to watch:
- Q3 2025: Announcements of first customer contracts.
- 2026: First module delivery to a commercial project.
- 2030: Operational proof of concept drives licensing approvals globally.

Final Analysis: A Nuclear Leader in a Green Transition

NuScale is not just an SMR player—it's the only SMR provider with a proven regulatory path to commercialization. With a design that's safer, cheaper, and more flexible than alternatives, and partnerships that are already generating revenue, the company is primed to dominate the nuclear renaissance. Investors who act now—before the first contracts are inked and the NRC certification is final—could secure a position in one of the most transformative energy plays of the decade.

Act now, or risk missing the SMR boom.